LUSAKA, Zambia, Jan. 15, 2021 /PRNewswire/ — As part of Government’s ongoing process aimed at restoring Zambia’s public debt sustainability, it became necessary to engage a specialized communication firm with experience in debt restructuring related communication to ensure effective communication with all creditors and stakeholders. It is international best practice for countries restructuring their external debt to hire a financial advisor, a legal advisor and a communication advisor to assist in the restructuring process. The Government of the Republic of Zambia organized an international tender in line with the provisions of the Public Procurement Act: five international firms were invited to participate and three submitted their proposals. Continue reading
Kenyan borrowers struggle to hang onto their assets as auctions heat up. A severe drought earlier this year, a slowdown in bank lending, and a prolonged period of political uncertainty are creating a growing pool of distressed borrowers whose assets are being seized by newly aggressive lenders in the east African powerhouse.
Tales of indebted students being driven to suicide have become commonplace in China in recent years, sparking public outrage. Samantha Vadas reports. Continue reading
Millennials shun any kind of debt, especially credit cards, and their reluctance to pull out the plastic could have lasting repercussions for the financial system and the economy, according to an expert.